Egypt - El-Dikheila Reinforcing Bar Project
Colombia | Medina Moncayo, Yaniro Gabriel
This is an impact evaluation for the El-Dikheila Reinforcing Bar Project in Egypt for which the Board approved US$165.3 million in May 1983. The loan was closed at the end of 1988 after an extension of one year. The project appears to have also had an important impact, as a role model, on the Egyptian industrial sector in recent years. After incorporation of Alexandria National Iron and Steel Company El Dikheila (ANSDK), a number of other entities were created under Law 43/74 and its successor Law 230/89, in which the Government or publicly owned enterprises held the majority of shares, with a minority foreign partner. But these laws were not the right vehicle for the restructuring of the existing public sector enterprises because the main objective of these legislations was to attract foreign investment in to Egypt. With the promulgation of Law 203/91 which provides a framework for the reorganization of the public enterprise sector into holding and affiliated companies, some 314 enterprises valued at around LE 70 billion, with a total labor force of about 1.1 million have been earmarked for restructuring and privatization. The environmental impact has been well managed. In the course of iron and steel making, considerable quantities of dust, fumes, noxious gases and waste water effluents are generated.
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